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Historic boom in wheat prices


DECRYPTION - Harvests reduced by droughts and floods on the one hand, strong demand in China and the Middle East on the other… The tension on the prices of the queen of cereals is having repercussions in the world.

The tonne of common wheat again exceeded 300 euros on Euronext on Monday, a price never seen for more than ten years.

Concerns related to Omicron, the new variant of the coronavirus, will have weighed - for now - only ephemeral.

“The world market is quite tight.

The increase in demand, particularly from China, which is becoming a recurring importer, is strong.

And production has been revised down a bit, ”

summarizes Philippe Chalmin, an economist specializing in raw materials.

According to the International Grains Council, world production of soft wheat for the current season is 777 million tonnes,

"a record high",

but total consumption over the same period is expected to reach 782 million tonnes.

About a quarter of this quantity is exported.

Read also

Rise in wheat: a big breath of fresh air for French grain producers

“A series of small climatic accidents have degraded production in exporting countries,”

explains Philippe Chalmin.

In Canada, drought and flooding disrupted production

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Source: lefigaro

All news articles on 2021-11-29

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